The rupee was trading weak by 12 paise at 62.68 against the dollar at 4.16 p.m. local time due to fresh demand for dollar from banks and importers.
The domestic unit recovered by 19 paise to 62.37 against the US dollar in early trade at the Interbank Foreign Exchange market today on increased selling of the American currency by exporters.
Forex dealers said a higher opening in the domestic equity market also supported the rupee but the dollar’s strength against other currencies overseas, following better-than-forecast US growth figures, capped the gains.
The rupee had lost 15 paise against the dollar to end at 62.56 in the previous session in line with a sell-off in emerging markets, after the US Federal Reserve scaled back its stimulus programme.
The benchmark BSE Sensex rose 54.65 points or 0.26 per cent to 20,552.90 in early trade today.
